“Courtesy of our friends at Incrementum AG, the following chart gives us an insightful historical perspective. Since the 1900s, we have had four notable commodity cycles. Three of them occurred during inflationary periods: the 1910s, 1940s, and 1970s. The fourth cycle took place in the early 2000s, coinciding with China’s entry into the World Trade Organization and its emergence as the manufacturing hub of the global economy, leading to one of the most extensive construction booms in history. Now, we believe we are standing on the cusp of witnessing two macro tailwinds favoring commodities at once: • The likely onset of another long-term inflationary cycle; • A global manufacturing ramp in G-7 economies In our view, another commodity cycle is underway.” Read the full letter here: crescat.net/buy-low-sell-h
"Courtesy of our friends at Incrementum AG, the following chart gives us an insightful historical perspective.
Since the 1900s, we have had four notable commodity cycles. Three of them occurred during inflationary periods: the 1910s, 1940s, and 1970s. The fourth cycle took… pic.twitter.com/xgMBfQutVl
— Ronnie Stoeferle (@RonStoeferle) January 15, 2024
Elsewhere, oil prices continue to fluctuate in the $70s after OPEC’s disastrous meeting in December pushed prices lower, while softs continue to collapse on strong global supply forecasts.
— Longview Economics (@Lvieweconomics) January 15, 2024
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